Snow, low temperatures and falling milk prices meant that dairy farmers delivered under quota for the eleventh consecutive month in February.

Milk output came in at 1.044bn butterfat-adjusted litres for the month, falling 12m litres below the Charles Holt/Farmers Weekly quota profile.

Butterfat content fell a little to 4.07%, but the weighted average for the year is still high at 4.01%.

It brings the annual shortfall to nearly 320m litres, with just one month of the milk year still to come.

In such a climate, prices for bought and leased milk quota have remained at rock bottom, with very little interest being shown, even though some vendors predict an upturn in values before the end of March.

BK Quota was offering small volumes of leased 4% quota at 0.1p/litre with clean 4% for sale at 4.25p/litre.